CEOs of Parsley Energy Inc. (PE) and Hecla Mining Company (HL) Are Discarding Shares, Plus Insider Buying at 3 Other Companies

Drug Wholesale Company Also Sees Board Member Pile Up Shares

AmerisourceBergen Corp. (NYSE:ABC) also saw a member of its board purchase some shares earlier this week. Director Lon R. Greenberg snapped up 4,000 shares on Tuesday at a price tag of $88.59 each. After the recent purchase, Mr. Greenberg currently owns 9,500 shares.

The global pharmaceutical sourcing and distribution services company has seen its market cap drop by 15% since the start of the year. AmerisourceBergen Corp. (NYSE:ABC)’s revenue for the three-month period that ended June 30 grew by 7.7% year-over-year to $36.88 billion. The increase in the company’s top line partially reflects the acquisition of MWI Veterinary Supply Inc., an animal health distribution company in the United States and the United Kingdom. Thanks to the strong performance delivered in the June quarter, the drug wholesale company raised its earnings per share estimate for the fiscal year ending September 30 to the range of $5.52-to-$5.57, up from the previous guidance of $5.44-to-$5.54. Ray Dalio’s Bridgewater Associates upped its stake in AmerisourceBergen Corp. (NYSE:ABC) by 31% during the June quarter to 319,092 shares.

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U.S. Provider of Dredging Services Registers Insider Buying

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) was yet another company that registered noteworthy insider buying at the beginning of the week. Board member Robert B. Uhler acquired 35,000 shares on Tuesday at a price of $4.02 per share, which boosted his ownership to 46,116 shares.

The largest provider of dredging services in the United States and a major provider of environmental and infrastructure services has seen the value of its stock gain a little less than 1% year-to-date. The company’s dredging revenues earned from contracts with federal government agencies, including the U.S. Army Corps of Engineers and federal entities such as the U.S. Coast Guard and the U.S. Navy, were around 66% of overall dredging revenues for the first half of the year. Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)’s second-quarter total revenue was $192.2 million, down from $238.9 million posted in the second quarter of 2015. Bernard Selz’s Selz Capital LLC added a 50,000-share position in Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) to its portfolio during the June quarter.

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